Randolph Street Realty Capital Acquires Multifamily Property In Arlington Heights For $25M
SOLD
$25,000,000
+ 1
Illinois
See Similar DealsMultiFamily700 SF
Sold 01/14/2021
SOLD
Randolph Street Realty Capital Acquires Multifamily Property In Arlington Heights For $25M
2302 South Goebbert Road, Arlington Heights, IL, USA
See Similar DealsMultiFamily700 SF
Sold 01/14/2021
+ 1
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$35,714
Total Square Footage:700 SF
Transaction Type:Sale
The multifamily property located at 2302-2416 S. Goebbert Road in Arlington Heights has been sold for a total price of $25,000,000. The transaction was completed on January 14, 2021. The property consists of 185 units, resulting in a per unit price of $135,135. The buyer of the property is Randolph Street Realty Capital, while the seller is Lawton Realty Group.
Summary of Transation Details:
- Property Type: Multifamily
- Transaction Amount: $25,000,000
- Address: 2302-2416 S. Goebbert Road, Arlington Heights
- Market: Arlington Heights
- Units: 185
- PPU: $135,135
The deal was facilitated by CBRE, with brokers including John Jaeger, Dan Cohen, Justin Puppi, and Nisha Mishra representing both the buyer and seller in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,333,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$88,819.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,512.75
Annual Debt Service$1,422,153.05
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